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Future Ventures India inches up on making additional investment in Holii Accessories

28 Aug 2012 Evaluate

Future Ventures is currently trading at Rs. 8.01, up by 0.01 points or 0.13% from its previous closing of Rs. 8.00 on the BSE.

The scrip opened at Rs. 8.00 and has touched a high and low of Rs. 8.05 and Rs. 8.00 respectively. So far 24,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 9.99 on 28-Sep-2011 and a 52 week low of Rs. 7.80 on 07-May-2012.

Last one week high and low of the scrip stood at Rs. 8.10 and Rs. 7.96 respectively. The current market cap of the company is Rs. 1,262 crore.

The promoters holding in the company stood at 37.32% while Institutions and Non-Institutions held 6.86% and 55.82% respectively.

Future Ventures India (FVIL) has made an additional investment in Holii Accessories (Holii). The company has subscribed to and has been allotted 150,000 equity shares of Holii.

Holii is a joint venture company between Hidesign India (Hidesign) and FVIL, each holding 50% of its paid-up equity share capital. Consequent to the rights offer made by Holii, equal shares have been allotted to Hidesign.

Holii is in the business of designing and distributing fashion accessories, such as luxury handbags, wallets and other products for women, under the brand name ‘Holii’. The aggregate infusion of Rs 3.00 crore by the joint venture partners subscribing to the equity shares of Holii, will be deployed to meet its working capital and other business requirements. The total revenue for Holii during the financial year ended March 31, 2012 was Rs 570.60 lakh as against Rs 393.41 lakh for the year prior to that.

Future Ventures currently has 13 companies in its portfolio which own brands in fashion, FMCG, food processing and home products. The company invests in businesses which are strategically important to the group's retail business. It plans to use a large part of the funds for acquiring new businesses while a small part of the proceeds will be used to grow the existing businesses.

Future Consumer Share Price

0.33 0.00 (0.00%)
20-Apr-2026 16:59 View Price Chart
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